CREDANT Claims Record Growth

Addison-based CREDANT Technologies, a provider of data encryption and security products, claimed today that it has had record growth in its first quarter. The privately held firm, which is backed by Austin Ventures, Menlo Ventures, Crescendo Ventures, Cisco Systems, and Intel Capital, said it saw a 58 percent yearly increase in its software sales. Actualy financial were not disclosed by the company. The firm said it had a 102 percent increase in new customers and 92 percent retention rate on existing customers.